#BTCReclaims120K

Bitcoin has surged past the $120,000 mark, reclaiming a significant milestone in its bullish trajectory. Currently trading at approximately $121,781, BTC has experienced a notable intraday high of $121,979 and a low of $117,665. This price movement underscores the growing momentum in the cryptocurrency market.

The recent surge has sparked discussions among traders and analysts about the potential for a short squeeze, with some speculating that a modest 10% increase could trigger over $18 billion in short liquidations. This scenario highlights the heightened volatility and the impact of leveraged positions in the current market environment.

As BTC approaches this critical level, market participants are closely monitoring key support and resistance levels, including the CME gap at $116,500, which could serve as a potential point of interest for future price movements.

With institutional interest continuing to grow and macroeconomic factors influencing investor sentiment, the path ahead for Bitcoin remains dynamic and closely watched by the global financial community.